diff --git a/homeassistant/components/esphome/manifest.json b/homeassistant/components/esphome/manifest.json
index dca1bce0d24..d0ab27656c2 100644
--- a/homeassistant/components/esphome/manifest.json
+++ b/homeassistant/components/esphome/manifest.json
@@ -16,7 +16,7 @@
   "loggers": ["aioesphomeapi", "noiseprotocol"],
   "requirements": [
     "async_interrupt==1.1.1",
-    "aioesphomeapi==16.0.1",
+    "aioesphomeapi==16.0.3",
     "bluetooth-data-tools==1.9.1",
     "esphome-dashboard-api==1.2.3"
   ],
diff --git a/requirements_all.txt b/requirements_all.txt
index 8a277be59d3..639ae033b8e 100644
--- a/requirements_all.txt
+++ b/requirements_all.txt
@@ -231,7 +231,7 @@ aioecowitt==2023.5.0
 aioemonitor==1.0.5
 
 # homeassistant.components.esphome
-aioesphomeapi==16.0.1
+aioesphomeapi==16.0.3
 
 # homeassistant.components.flo
 aioflo==2021.11.0
diff --git a/requirements_test_all.txt b/requirements_test_all.txt
index 3ed02d7d46b..ab5c68bae34 100644
--- a/requirements_test_all.txt
+++ b/requirements_test_all.txt
@@ -212,7 +212,7 @@ aioecowitt==2023.5.0
 aioemonitor==1.0.5
 
 # homeassistant.components.esphome
-aioesphomeapi==16.0.1
+aioesphomeapi==16.0.3
 
 # homeassistant.components.flo
 aioflo==2021.11.0